ONEOK (NYSE:OKE) Reaches New 1-Year High at $93.00

Shares of ONEOK, Inc. (NYSE:OKE) hit a new 52-week high on Monday . The company traded as high as $93.00 and last traded at $93.00, with a volume of 2035 shares trading hands. The stock had previously closed at $91.37.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their target price on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Citigroup upped their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho boosted their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $91.31.

ONEOK Stock Up 1.3 %

The business’s fifty day moving average is $86.12 and its two-hundred day moving average is $81.87. The stock has a market cap of $54.02 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 4.47 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the prior year, the company earned $1.04 earnings per share. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is presently 92.09%.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of ONEOK during the fourth quarter worth about $297,948,000. Wellington Management Group LLP grew its position in shares of ONEOK by 2,643.5% during the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after acquiring an additional 1,128,066 shares during the last quarter. M&G Plc acquired a new position in shares of ONEOK in the 1st quarter valued at $77,634,000. Kayne Anderson Capital Advisors LP raised its position in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in ONEOK by 36.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,076,078 shares of the utilities provider’s stock worth $145,782,000 after purchasing an additional 552,824 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.